https://www.taxtmi.com/caselaws?id=67966 Industrialisation subsidy was treated as an incentive to promote investment, not as a contribution towards the cost of any specific plant or machinery. Depreciation was therefore to be computed on the gross cost actually incurred, without reducing the subsidy from the asset cost. Where two interpretations were possible, the view favourable to the assessee was preferred. The subsidy was not deductible from the cost of plant and machinery for depreciation purposes, and the issue was decided in favour of the assessee. en-us Fri, 10 Apr 1987 00:00:00 +0530 Tue, 15 Mar 2011 18:53:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67966 Industrialisation subsidy was treated as an incentive to promote investment, not as a contribution towards the cost of any specific plant or machinery. Depreciation was therefore to be computed on the gross cost actually incurred, without reducing the subsidy from the asset cost. Where two interpretations were possible, the view favourable to the assessee was preferred. The subsidy was not deductible from the cost of plant and machinery for depreciation purposes, and the issue was decided in favour of the assessee. Case-Laws Income Tax Fri, 10 Apr 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67966